Hedge Funds

Goldman finds the right formula to build a giant

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Carhart and Iwanowski push the bank into the quant manager elite

Think Goldman Sachs and think quantitative hedge fund stars and you probably think Cliff Asness and his Greenwich-based AQR Capital Management. You're right. But only half right. In fact, the men who rebuilt Goldman's Quantitative Strategies Group after AQR's highly-regarded partners decamped to form their own firm have quietly built it into one of the largest and most profitable players in the highly academic and idiosyncratic world of quantitative global macro funds, a fraternity that includes AQR, Bridgewater, D. E. Shaw, Quantitative Financial Strategies,